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CHMG

Chemung Financial NasdaqGS:CHMG Stock Report

Last Price

US$42.18

Market Cap

US$197.2m

7D

0.02%

1Y

-4.4%

Updated

24 Sep, 2022

Data

Company Financials +
CHMG fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends4/6

CHMG Stock Overview

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services.

Chemung Financial Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Chemung Financial
Historical stock prices
Current Share PriceUS$42.18
52 Week HighUS$49.50
52 Week LowUS$40.75
Beta-0.00040
1 Month Change-8.49%
3 Month Change-2.47%
1 Year Change-4.42%
3 Year Change0.38%
5 Year Change-10.45%
Change since IPO234.10%

Recent News & Updates

Sep 07
Chemung Financial's (NASDAQ:CHMG) Dividend Will Be $0.31

Chemung Financial's (NASDAQ:CHMG) Dividend Will Be $0.31

The board of Chemung Financial Corporation ( NASDAQ:CHMG ) has announced that it will pay a dividend of $0.31 per share...

Aug 21
Chemung Financial (NASDAQ:CHMG) Is Paying Out A Dividend Of $0.31

Chemung Financial (NASDAQ:CHMG) Is Paying Out A Dividend Of $0.31

Chemung Financial Corporation ( NASDAQ:CHMG ) will pay a dividend of $0.31 on the 3rd of October. Based on this...

Aug 17

Chemung Financial declares $0.31 dividend

Chemung Financial (NASDAQ:CHMG) declares $0.31/share quarterly dividend, in line with previous. Forward yield 2.66% Payable Oct. 3; for shareholders of record Sept. 19; ex-div Sept. 16. See CHMG Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

CHMGUS BanksUS Market
7D0.02%-5.8%-5.2%
1Y-4.4%-21.7%-23.1%

Return vs Industry: CHMG exceeded the US Banks industry which returned -21.7% over the past year.

Return vs Market: CHMG exceeded the US Market which returned -23.1% over the past year.

Price Volatility

Is CHMG's price volatile compared to industry and market?
CHMG volatility
CHMG Average Weekly Movement3.5%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.8%

Stable Share Price: CHMG is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: CHMG's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1833337Anders Tomsonhttps://www.chemungcanal.com

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts. It also offers commercial and agricultural loans comprising loans to small to mid-sized businesses; commercial mortgage loans; residential mortgage loans; consumer loans, including home equity lines of credit and home equity term loans; and interest rate swaps, letters of credit, wealth management, employee benefit plans, mutual fund, insurance products, and brokerage services.

Chemung Financial Fundamentals Summary

How do Chemung Financial's earnings and revenue compare to its market cap?
CHMG fundamental statistics
Market CapUS$197.22m
Earnings (TTM)US$27.99m
Revenue (TTM)US$93.24m

7.0x

P/E Ratio

1.1x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CHMG income statement (TTM)
RevenueUS$93.24m
Cost of RevenueUS$0
Gross ProfitUS$93.24m
Other ExpensesUS$65.25m
EarningsUS$27.99m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.99
Gross Margin100.00%
Net Profit Margin30.02%
Debt/Equity Ratio26.3%

How did CHMG perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

21%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is CHMG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CHMG?

Other financial metrics that can be useful for relative valuation.

CHMG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-2.9x

Price to Earnings Ratio vs Peers

How does CHMG's PE Ratio compare to its peers?

CHMG PE Ratio vs Peers
The above table shows the PE ratio for CHMG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.3x
CSHX Cashmere Valley Bank
7xn/aUS$194.2m
ISTR Investar Holding
12.3x-2.2%US$203.0m
MLGF Malaga Financial
9.8xn/aUS$191.3m
ATLO Ames National
9.3xn/aUS$198.0m
CHMG Chemung Financial
7x-2.5%US$197.2m

Price-To-Earnings vs Peers: CHMG is good value based on its Price-To-Earnings Ratio (7x) compared to the peer average (9.3x).


Price to Earnings Ratio vs Industry

How does CHMG's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: CHMG is good value based on its Price-To-Earnings Ratio (7x) compared to the US Banks industry average (9.7x)


Price to Earnings Ratio vs Fair Ratio

What is CHMG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CHMG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ratio9.9x

Price-To-Earnings vs Fair Ratio: CHMG is good value based on its Price-To-Earnings Ratio (7x) compared to the estimated Fair Price-To-Earnings Ratio (9.9x).


Share Price vs Fair Value

What is the Fair Price of CHMG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CHMG ($42.18) is trading below our estimate of fair value ($115.45)

Significantly Below Fair Value: CHMG is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Future Growth

How is Chemung Financial forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-2.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CHMG's earnings are forecast to decline over the next 3 years (-2.5% per year).

Earnings vs Market: CHMG's earnings are forecast to decline over the next 3 years (-2.5% per year).

High Growth Earnings: CHMG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CHMG's revenue (4.4% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: CHMG's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CHMG's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Chemung Financial performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CHMG has high quality earnings.

Growing Profit Margin: CHMG's current net profit margins (30%) are higher than last year (27.9%).


Past Earnings Growth Analysis

Earnings Trend: CHMG's earnings have grown by 20% per year over the past 5 years.

Accelerating Growth: CHMG's earnings growth over the past year (15.3%) is below its 5-year average (20% per year).

Earnings vs Industry: CHMG earnings growth over the past year (15.3%) exceeded the Banks industry 8.7%.


Return on Equity

High ROE: CHMG's Return on Equity (16%) is considered low.


Discover strong past performing companies

Financial Health

How is Chemung Financial's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CHMG's Assets to Equity ratio (14x) is moderate.

Allowance for Bad Loans: CHMG has a sufficient allowance for bad loans (237%).

Low Risk Liabilities: 96% of CHMG's liabilities are made up of primarily low risk sources of funding.

Loan Level: CHMG has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: CHMG's Loans to Deposits ratio (73%) is appropriate.

Level of Bad Loans: CHMG has an appropriate level of bad loans (0.5%).


Discover healthy companies

Dividend

What is Chemung Financial current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.94%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: CHMG's dividend (2.94%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: CHMG's dividend (2.94%) is low compared to the top 25% of dividend payers in the US market (4.57%).


Stability and Growth of Payments

Stable Dividend: CHMG's dividends per share have been stable in the past 10 years.

Growing Dividend: CHMG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (20.8%), CHMG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Anders Tomson (55 yo)

5.75yrs

Tenure

US$1,040,542

Compensation

Mr. Anders M. Tomson has been the Chief Executive Officer and Director of Chemung Canal Trust Company and Chemung Financial Corporation since December 22, 2016. He serves as President & CEO of CFS Group, I...


CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD1.04M) is below average for companies of similar size in the US market ($USD1.68M).

Compensation vs Earnings: Anders's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CHMG's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: CHMG's board of directors are considered experienced (7.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CHMG insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqGS:CHMG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
27 Jul 22SellUS$203,887Ronald BentleyIndividual4,522US$45.09
26 Jul 22SellUS$112,355Ronald BentleyIndividual2,478US$45.58
26 Jul 22SellUS$22,647Thomas WirthIndividual500US$45.29
16 Jun 22SellUS$76,920Loren ColeIndividual1,798US$42.78
03 Jun 22BuyUS$44,950Denise GonickIndividual1,000US$44.95
20 May 22SellUS$51,887Loren ColeIndividual1,150US$45.12
01 Feb 22SellUS$36,492Denise GonickIndividual800US$45.62
28 Jan 22BuyUS$37,120Denise GonickIndividual800US$46.40
19 Nov 21BuyUS$14,720G. TranterIndividual320US$46.00

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 51.55% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
8.13%
David Dalrymple
380,058$16.0m0.06%no data
6.59%
FJ Capital Management, LLC
308,000$13.0m-4.77%1.22%
5.94%
Chemung Canal Trust Company
277,877$11.7m-5.72%no data
5.28%
Robert Dalrymple
246,932$10.4m0%no data
3.9%
Basswood Capital Management, L.L.C.
182,198$7.7m29.04%0.47%
3.28%
The Vanguard Group, Inc.
153,353$6.5m-0.07%no data
2.07%
Dimensional Fund Advisors LP
96,735$4.1m3.7%no data
1.84%
AllianceBernstein L.P.
86,058$3.6m10.63%no data
1.56%
Royce & Associates, LP
73,043$3.1m-8.67%0.03%
1.56%
Richard Swan
72,754$3.1m0%no data
1.38%
First Manhattan Co.
64,683$2.7m-4.91%0.01%
1.18%
Renaissance Technologies LLC
55,322$2.3m-5.12%no data
1.05%
Bridgeway Capital Management, LLC
49,191$2.1m0%0.05%
0.99%
Anders Tomson
46,474$2.0m2.13%no data
0.96%
Ronald Bentley
44,753$1.9m-13.53%no data
0.79%
Larry Becker
37,033$1.6m-3.8%no data
0.72%
Acadian Asset Management LLC
33,616$1.4m0%0.01%
0.7%
Geode Capital Management, LLC
32,806$1.4m3.27%no data
0.65%
Morgan Stanley, Investment Banking and Brokerage Investments
30,231$1.3m-0.03%no data
0.59%
LSV Asset Management
27,353$1.2m-2.15%no data
0.55%
G. Tranter
25,736$1.1m1.66%no data
0.51%
Louis Difabio
24,050$1.0m0%no data
0.48%
Forum Financial Management, LP
22,368$943.5k0%0.05%
0.43%
Thomas Wirth
20,265$854.8k0.68%no data
0.41%
Stephen Lounsberry
19,302$814.2k0.48%no data

Company Information

Chemung Financial Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Chemung Financial Corporation
  • Ticker: CHMG
  • Exchange: NasdaqGS
  • Founded: 1833
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$197.220m
  • Shares outstanding: 4.68m
  • Website: https://www.chemungcanal.com

Number of Employees


Location

  • Chemung Financial Corporation
  • One Chemung Canal Plaza
  • Elmira
  • New York
  • 14901
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHMGNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1975

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.